Northern Ireland golfer Graeme McDowell was paid a dividend of $475,000 (€490,214) last year by a golf promotions company that he owns, according to the latest accounts filed here.
Abridged accounts for McDowell’s Boyport Services Ltd – signed off in August – show that $475,000 in dividends was paid out last year compared with $2.1 million in 2020.
He had received dividend payouts of $1.42 million in 2019 and $2.87 million in 2018 – a total of $6.86 million over the four years.
Accumulated profits at the company last year increased by $126,631 to $15.25 million.
McDowell has been subjected to criticism regarding his decision to sign up to the controversial and lucrative new Saudi Arabia-backed LIV golf tour earlier this year. After speaking out on his reasons for joining earlier this year, the Portrush golfer commented at the JP McManus Pro-Am event in July that “in hindsight, I wish I had said nothing”.
On joining the LIV tour the 43-year-old said: “It’s financially a great opportunity for me and my family.”
The cash pile at McDowell’s company increased marginally last year, rising by $99,139 to just under $3.4 million.
The value of its investment properties increased by $2.4 million to $4.7 million as reconstruction continued on a holiday home owned by the 2010 US Open winner on the Abaco Golf Club estate on the island of Grand Abaco in the Bahamas. The holiday home was flattened by Hurricane Dorian in September 2019. The value of the reconstruction in 2021 was put at $2.4 million.
At the end of 2021 the company had investments with a book value of $7.3 million.